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FINANCIAL NEWS
France’s Hollande to Abu Dhabi to support Total’s gas field bid
12 Jan 2013
(MENAFN) French President Francois Hollande is heading to the UAE to support Total SA bid to win a license to operate USD10 billion Bab sour gas field, Reuters reported.
The Bab ultra-sour gas deal could also give Total a competitive edge in talks for the 2014 renewal of the UAE’s largest onshore oil concession, ADCO, on which the Bab field stands.
In November, British Prime Minister David Cameron visited the Gulf state to clear the skies with Abu Dhabi and try to reinstate BP in the bidding process for the renewal of the ADCO concession.
BP has been excluded due to UAE irritation with Britain’s backing of Arab Spring uprisings in 2011.
ADNOC has launched a tender to award in 2014 a 30-year licence to develop the multi-billion, ultra-sour Bab gas field, which is included in the 1.5 million barrels per day (bpd) concession.
More News
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BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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